I-270 corridor peppered with biotech space from Human Genome Sciences, others - Pacific Business News (Honolulu):

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Two years after the Rockville behemot h inked a subleasing deal with anothermammoth biotech, MedImmune, the lattef company is moving out of the former’ manufacturing wing. That leaves Human Genome Sciences shopping for a new tenantr at a time of economixc tumult when many life sciencees companies are taking scissors to theidr budgets and bulldozers to theirphysicalo spaces. HGS says it is not worried and has received interesgt in thespace already. But that vacancy, along with a 50,000-square-foo t chunk of Rockville lab space that just landecd on the market fromthe J.
Craib Venter Institute’s campus, adds up to nearly 945,000 square feet of empty bioscienced property lining the Interstate 270 Some bio real estate observers caution againstr lumping all of thoselots together. HGS’ manufacturinf territory is highly complexand specialized, whilde the newly available Venter space is geared more to The bulk of it, nearly 720,00 square feet, is routinde office and lab space, with its largest slab — 130,000 squar feet at 9800 Medical Center Drive — having been on the marketf for several years and, thus, not the best barometetr of the rough The new HGS space “certainly adds to the vacancy and doesn’t look good on the but I don’t think average lab usera will be looking for that space,” said Herman Diebler, presidentt of JackLine Realty LLC, a Restob life sciences-oriented commercial real estate “They wouldn’t be affected by that much space on the market.
” a few in the bio real estate businesws argue there is causde for optimism. Rockville-based Scheer Partners Inc. said that last year it conductedx 11 bio real estate totaling 220,000 square feet. Four were So far this year, the company countws 15 real estatedeals — five of them renewalsa — totaling 272,000 square Nontraditional research organizations are helping to fill the vacanrt space. The U.S. Consumer Product Safethy Commission tookroughly 60,000 square feet in a Rockville building at 5 Research owned by Alexandria Real Estats Equities Inc. And the stimulus-boosted National Institutes of Healtbh is huntingfor 50,000 square feet.
But those expansions are beint offset by contractions atbiotech companies. MiddleBrooo Pharmaceuticals Inc. has moved most of its operationsto Texas, and Celeraa Corp. has shifted to California, vacating a combinex 170,000 square feet of offices and In addition, EntreMed Inc. has reduced its footpriny by 52,000 square feet in At HGS, which years ago sold and leased back its MedImmune had been occupying manufacturing spac e sinceMarch 2007, when the Gaithersburf biotech began working with the Department of Health and Humanj Services on cell culture research.
But MedImmune officials said HHS has sincee abandonedthat project, making the space no longetr necessary — two years before the initial terms of the leas e were set to expire. The company will pay a terminatioj fee that HGS spokesman Jerrgy Parrott said will compensate for its absence througgh the rest ofthis year. MedImmune was set to pay $4.5 millioh in rent this year. The cost of assuming the spacer again is insignificant even if no tenants materializd by earlynext year, Parrot “Before MedImmune came in, we were carrying the cost of that facilitg all along.
It’s not like this is The best prospects for the highlgy specialized HGS space are outsidethis area, accordingg to officials at Scheer which is marketing the HGS and Vented spaces. “When you look at that space, you can’t just look said Matt Brady, a Scheer vice president. “You have to look if not internationally. … Now you’re fishint in the global market withbetter